Africa Sun revenue up 30%

Africa Sun revenue up 30%

By Staff Reporter HOSPITALITY group Africa Sun recorded a 30% increase in revenue for the first five months of 2018 against the prior period buoyed by increased foreign arrivals. Giving a trading update at the annual general meeting managing director ED Shangwe said the impending election would drive business as foreign observers had begun arriving in the country. He said the new dispensation had also changed the perception foreign travelers had on the destination evidenced by the growth in arrivals since the dramatic events of November. “Revenue up 30% to…

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Mining sector requires US$11B

Mining sector requires US$11B

By Ndafadza Madanha THE mining sector requires a staggering US$11 billion to carry out new projects, bolster production and reopen closed mines. Since ushering of the new dispensation several international and local investors have expressed interest in investing in the lucrative but capital intensive sector. According to Zimbabwe Chamber of Mines chief executive Issac Kwesu the needs of the sector have grown from US$5b estimated in January to the current US$11b owing to the growing interest shown by investors and deals inked. He said the bulk of the money required…

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Business anxious at FDI prospects …..fear economic empowerment agenda maybe discarded

Business anxious at FDI prospects …..fear economic empowerment agenda maybe discarded

By Ndafadza Madanha GOVERNMENT’s vigorous effort to lure Foreign Direct Investment (FDI) under the “Zimbabwe is open for business” mantra has unnerved local businesses who fear the new thrust could sink the economic empowerment agenda. Local business fear if government successfully lobbies international business to invest in the country they will be caught flat footed as the bulk of them have not retooled and are still to reap full dividends of the various protectionist policies put in place by the previous regime. Business has called upon government to ring fence…

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